I've always been conflicted about Bitcoin ATMs.
There are a million negatives that pop into my head, but I'm hoping that's just a bias that I've picked up throughout my life experiences.
- My worry would be that anybody using these ATMs would be a target; either for a robbery on the spot or for a long-term casing and burglary.
I haven't ever personally used a Bitcoin ATM, but I've come across them occasionally and always wonder how secure they are.
- When you use your credit card there is already a risk of credit card skimmers, which will still be a consideration; Any KYC Documents that are required by a Bitcoin ATM would also be subject to the same type of skimming.
Then you add the 11% fees on top of it and any software bugs that might result in you not receiving your coin or it being an unfavorable exchange rate.
The convenience of being able to exchange Bitcoin at an ATM, to me, is outweighed by the inconvenience of not being able to use the Bitcoin to purchase anything at the store the ATM is housed inside.
People have gotten used to $4 ATM fees to pull out $40 in cash so this is really not that much worse for smaller transactions.
I'd be willing to bet that if there was more of a customer-base, we would see Bitcoin ATMs transition to a flat fee like most USD ATMs.